The New Taiwan dollar on Friday gained against the US dollar, rising NT$0.40 to close at NT$30.500.
That left the NT dollar unchanged from June 29.
Turnover totaled US$672 million during the trading session.
The greenback opened at NT$30.540, and moved between NT$30.464 and NT$30.545 before the close.
Elsewhere on Friday, the US dollar fell as US tariffs on Chinese imports took effect, but a muted reaction in currency markets suggested that the escalation had largely been priced in by investors focusing on a US jobs report due later in the day.
The latest salvo in a trade conflict between the world’s biggest economic powers was fired on Friday, when US tariffs on US$34 billion of Chinese goods went into effect.
Markets were looking for any retaliatory measures China might employ — Beijing on Friday said it had no choice but to fight back on trade — and the volatility that could cause.
However, the response among major currencies was fairly limited.
“The first batch of tariffs is a milestone in the trade war, but a very well-telegraphed one. China said it’s forced to retaliate, but did not specify a timeframe. That’s helping risk appetite,” RBC Capital Markets global head of foreign exchange Elsa Lignos said in London.
The US dollar index, which measures the greenback against a basket of six other major currencies, slipped to 94.317 after dropping to 94.177, its lowest since Tuesday last week, the previous day.
That helped the euro rise to US$1.1727, its strongest since that Tuesday.
The euro was on Thursday lifted by strong German industrial orders and signs that Washington had softened its trade rhetoric towards EU automakers.
The Australian dollar, a liquid proxy to China-related trades, edged up 0.1 percent to US$0.7405, suggesting that the region’s markets were greeting the tariffs calmly.
Against the safe-haven yen, the US dollar inched down 0.1 percent to ￥110.560 and the Chinese yuan remained weaker against the greenback.
Investors wanted to know whether the tariffs were a continuation of tit-for-tat measures or an escalation between the two countries.
“Participants will be looking to shift their attention from trade matters to the US nonfarm payrolls, and if the jobs report is strong, dollar/yen stands poised to rise and break out of its recent range,” Daiwa Securities Group Inc senior currency strategist Yukio Ishizuki said in Tokyo.
“Any misses in today’s data could spur a wave of profit-taking — given signs that the [US dollar] rally looks to be running out of steam,” ING Groep NV analysts said.
The pound was effectively flat at US$1.3224. It had on Thursday reached a nine-day high of US$1.3275 after Bank of England Governor Mark Carney said he was confident an economic slowdown was temporary, but the rise faded before Friday’s government meeting on Brexit policy.
The yuan was 0.2 percent weaker at 6.6506 per US dollar, but still some distance from Tuesday’s 11-month low of 6.7204.
The yuan had retreated amid trade concerns before pulling back on assurances by the People’s Bank of China.
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